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The European Investment Bank (EIB) is to open it first Irish office later this year.

The plans were confirmed by EIB vice president Andrew McDowell, who was Enda Kenny’s economic advisor until he was appointed to the €270,000 a year post earlier this year.
He confirmed the new Irish office during his first working visit to Dublin since taking up his new office earlier this month.

Mr McDowell said total EIB exposure to Ireland remains below the European average, indicating scope to ramp up investment here by the European Union owned bank.
The EIB intends to do more in Ireland, he said.

“The new Dublin office will ensure that formal and informal links between Irish authorities and private sector partners build on this track record to ensure that opportunities to broaden EIB engagement are not lost,” he said.